Houston real estate market for October continues in positive direction.

Single-family home sales in Houston continue to thrive with no signs of slowing down!  Home sales are up 8% from last October and up 2% year-to-date.  The most interesting metric for October is that there is a 20% increase in pending sales.  These are sales that are under contract and scheduled to close at some time in the future.  20% is quite a boost in sales that most likely will occur in the final months of 2019.

Here’s an overview of market activity for the month and year-to-date:

Below is a table of the highest % of sales by price range for October:

Houston covers a vast metropolitan area and some areas may be outperforming the Houston overall market, some may be underperforming and some may be performing like Houston.  For an overview of how your area is performing in relation to the overall market, click here.

One interesting aspect of the Houston single-family market is the Houston Hotness Index.  This table is created by area and lists from high to low – the hottest selling areas in Houston.  The Houston Hotness Index is determined by analyzing all areas and taking the number of listings on the market at the first of the month in relation to the number of pending sales. This ratio reveals each areas’ hotness.  To view the Houston Hotness Index, click here.

With October behind us and November in full bloom, we look forward to reporting on the market activity for the last 2 months of 2019.  Stay Tuned!

 

Submitted by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene. Data derived from the October 2019 report from the Houston Realtors® Information Services in conjunction with The Real Estate Center of Texas A&M.

 

April Brings 8% Increase in Home Sales

Houston single-family home sales in April closed 8% ahead of 2018. And even better news – contracts written but not closed went up 18%. This indicates that sales will continue to grow at least through May.  The number of listings has increased which means less home price appreciation in some price ranges.   Stay tuned and we’ll keep you posted.

Here’s a glance at the trends for the month and year:

*Pending sales are homes that are under contract and have not closed and indicate current buyer demand.

Top Selling Home Sales by Price Class for 2019 YTD

  1. $200,000-$249,999 – 4,844 sales YTD – 2.9  MOI
  2. $250,000-$299,999  – 3,389                     4.3  MOI
  3. $750,000-$999,999  – 1,215                    10.1 MOI
  4. $1,000,000 +               1,731                   12.9 MOI
  5. $400,000 – $499,999   3,097                     6.3 MOI

As you can see, homes priced below $300,000 have the lowest months of inventory, are in a sellers’ market and therefore will enjoy the highest home price appreciation.  Homes with 6.3 months of inventory are in a balanced market and those above 7 MOI are in a buyers’ market.

The Houston overall market is so large; it rarely reflects the same trends as a submarket area located within its boundaries.  Some areas are exceeding Houston’s overall growth in sales while others are lagging behind.  For a breakdown of activity by area with a map, CLICK HERE.

To see the hottest selling geographical areas for the month in Houston, CLICK HERE.

To search for homes by price range and map, go to www.GaryGreene.com.

 

Data provided by the Houston Association of Realtors® Information Services™, and The Real Estate Center for Texas A&M and written by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene